Rep. Flake Seeks Cosponsors on H.R. 5536, the Debt Buy Down Act of 2010
Washington,
Jun 29 -
Rep. Flake seeks cosponsors for H.R. 5536, the Debt Buy Down
Act of 2010. With Congress seemingly unwilling or unable to rein in spending,
the time has come to give taxpayers the opportunity to take action and the
flexibility to direct their tax dollars to deficit reduction if they choose.
Originally introduced in the 102nd Congress, the Debt Buy-Down Act
would require the IRS to include a check-off on tax forms providing taxpayers
the flexibility to voluntarily designate that up to 10% of their tax liability
be put toward debt reduction. In order to ensure that reductions in the debt
are protected, the bill also requires an equal amount of permanent reductions in
federal spending (either by Congressional spending cuts or an automatic across
–the-board rescission). This bill is supported by the: Council for Citizens
Against Government Waste, Americans for Tax Reform and the Center for Fiscal
Accountability, National Taxpayers Union, Club for Growth, Americans for
Prosperity, Committee for a Responsible Federal Budget, and FreedomWorks.
If you would like to cosponsor H.R. 5536, please contact Chandler Morse at
5-2635 or chandler.morse@mail.house.gov.
Additional information is attached.
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